bullish
Eisai Co (4523 JP): Better-Than-Expected Q1FY24 Result; Reaffirmed FY24 Guidance
389 Views05 Aug 2023 17:52
SUMMARY
- Eisai Co Ltd (4523 JP) reported 7% YoY revenue growth in Q1FY24, due to the growth of anticancer agent Lenvima mainly in the U.S. and insomnia treatment Dayvigo in Japan.
- The company has reiterated FY24 guidance, which calls for 4% YoY revenue decline, 25% YoY growth in operating profit, and 31% YoY decline in net profit.
- On July 6, 2023, Eisai received full FDA approval for Leqembi (lecanemab) injection for the treatment of Alzheimer’s disease. Leqembi is progressing steadily toward treating 10K U.S. patients in FY24.
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Tina Banerjee
Global Healthcare Analyst
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